Yes, you can hold a "physical bitcoin" in your hand. You can trade it from person to person, and eventually turn it back into a digital coin if you wish. However, most often you will be only dealing in digital bitcoins. You don't need a bank account or a credit card to use those. Mar 27, · Withdrawal Methods: Coinbase lets you sell Bitcoins for cash, which you can then withdraw into your bank account. You can only cash out your Bitcoin into a bank account that you have already used to buy cryptocurrency on Coinbase. So, if you haven’t done this yet, I recommend purchasing a small amount of cryptocurrency first. May 26, · Turn Your Bitcoin into Physical Cash with ute-strohner.de For those of you looking to trade your Bitcoin directly for physical cash, ute-strohner.de may be a better solution. LocalBitcoins is a person to person trading site where people can post their own bids for the buying and selling of Bitcoins to USD or other local fiat currencies.
Can you turn bitcoins to cashexchanges - How can I change BTC into normal cash? - Bitcoin Stack Exchange
There are physical Bitcoins but basically, they're just the key to an electronic account printed in some form. I think you're missing the concept that Bitcoins act like a currency or commodity. You can have 10 Bitcoins just like you can have 10 ounces of gold. The key difference is that the Bitcoins exist electronically rather than phyiscally. If you have Bitcoins and want dollars, you have to find someone who has dollars and wants Bitcoins, then you exchange with them.
Bitcoins are not a payment or fund transfer system for national currencies like PayPal and Western Union are. Bitrcoins are a currency that has an efficient built-in transfer system. Bitcoin doesn't need a bank account - your bitcoin wallet is your bank account, and you don't need any permission or paperwork to start using bitcoin. For example, using localbitcoins. What you are looking for is likely a person-to-person exchange where you provide bitcoins and in exchange you get EURO currency.
While there is some of this happening in various places, it is not found everywhere. There are no buyers or sellers listing Libya, I didn't quite understand the other parts of your question. Bitcoin don't rely on having a credit card nor having a bank account.
You don't need a credit card to use Bitcoin, and you don't need any account anywhere. Bitcoin was born out of discontentment with traditional central banking, monetary, credit and transaction systems. That's why there is no central institution or authority behind Bitcoin that can administer you. How much one bitcoin is worth is entirely decided by free market dynamics within the community.
That's possible because the supply of bitcoins is held artificially scarce. It's a currency from the people for the people. It will be entirely up to initiatives in your community to build services that exchange to and from traditional Libyan currencies, to offer goods and services, or to manufacture physical coins similar to Casascius to put into circulation although these are rather seen as a gimmick, it may be much more convenient to use mobile phone clients nowadays for meatspace trading.
Even in US and Europe where it's most popular, Bitcoin is still in its infancy and this process is only just happening. If you happen to find Bitcoin inadequate to build a local economy upon, because you can't mine enough or you'd have to invest too much to buy some , you may take a look at different concepts like Ripple et al. Money is a tool to transfer value after all. There are currently no known tools or technologies that can solve all problems at once if you don't want a currency that is enforced by an authority.
Bitcoins have no central authority. There is no bank required. All Bitcoins are digital. You need only a computer a PC, Smartphone, etc! There's no need to have physical coins or bills. You could print the secret information that you can use your Bitcoin with, but it is not quite the same as cash.
You could even get bank notes redeemable Bitcoin "vouchers" from a trusted party. That is pretty much what cash is. You would also take a lot of unnecessary risk, which could give you the authentic cash experience. Yes, you can hold a "physical bitcoin" in your hand. You can trade it from person to person, and eventually turn it back into a digital coin if you wish.
However, most often you will be only dealing in digital bitcoins. You don't need a bank account or a credit card to use those.
They are stored in a so called "block chain" - a ledger of all transactions on bitcoins. In order to spend them, you need your Bitcoin address and its private key - a really big random number. You can store it as a QR code, a file on a computer or anything, but you do need some special program to use those. If you are looking for an anonymous method of converting Bitcoins to cash, you should look at www. They will even send you your payment without you needing to show any ID. Completely anonymous way of converting your Bitcoins to cash.
There's Coinbase tied in with US banks, wires and withdrawals have fees but much faster to use than MtGox. There are Robocoin ATMs now in general circulation but for traders, fees can be a problem. If you can stick with BTC you'll do fine, but converting to cash is slow and costly. One option is to circulate through arbitrage and keep trading until 'enough' margin is available to dump a stack of coins in the market by discounting.
The more we use and develop BTC, the better for us all. The value is increasing rapidly in the BTC market. How else can we sell our BTC for cash? Lets keep working on this. One final word, please be very informed before looking at Ripple. Here's some food for thought. Search ripple scam for comment No, you can't hold a bitcoin in your hand. Choose a withdrawal destination that you are familiar with and the amount of USD you want to formally transfer funds into. That is all it takes.
Once you have the bitcoin on an exchange, such as Coinbase and Gemini, you can painlessly sell it. LocalBitcoins is a person to person trading site where people can post their own bids for the buying and selling of Bitcoins to USD or other local fiat currencies.
Not only is there no identity verification, but there are sometimes great arbitrative opportunities depending on how desperate a person is to buy bitcoin and how many other sellers there are in the area. This can create the ability to sell your Bitcoin above market value.
After determining the amount of BTC you want to sell, find a deal that suits your payment method currency wise or post your own listing.
LocalBitcoins gives each user a feedback score similar to eBay where users can get comfortable with the history and number of deals the buyer has completed through local bitcoin. Now that you know your buyer, send the details of exactly what you want from them and make sure you are complying with the terms of the trade. These will tell you where and how you will receive your USD payment.
Also, remember to fund your Local Bitcoins wallet address so you can initiate the transaction based on the minimum about of BTC referenced in the trading request. Now that all parties have agreed on the transaction and ironed out the specifics in the inbox section of LocalBitcoins, your Bitcoins will be moved from your wallet to the trade escrow.
At this point, the buyer will get your payment details how do you want to get paid for your BTC and release the USD equivalent in cash over to you via the agreed upon manner. When you have received the payment, you will confirm to Localbitcoins.
That is it the trade is done! As bitcoin and cryptocurrency continue to explode in popularity, more and more services are coming online to help users get their hands-on bitcoin or turn their bitcoin into USD or other fiat currency in a quick and effective way.
In the early stages of Bitcoin development, most cryptocurrency enthusiasts tended to think that the original digital…. Even though it was founded in , a time when there were already established companies in the…. Ethereum 2. When not focused on crypto, Reed can be found passionately following the NFL.
Reed Schlesinger. How to sell Bitcoin? What is the current exchange rate of Bitcoin? How to convert Bitcoin into cash? Bitcoin Fundamentals.